The Latvian government will have to decide on additional capital needed for the country’s national air carrier, airBaltic, in 2026, Finance Minister Arvils Aseradens stated, LETA reports. He stressed that the airline’s future operations required capital investment. However, the government would have to seek additional sources of funding for such an investment, the minister explained….
The Latvian government has again suggested that all three Baltic States invest in Latvia’s national airline, airBaltic, ERR reports. Prime Minister Evika Silina argued that the Baltic countries should work together to “coordinate aviation” in the region. She intends to discuss the issue with her Estonian and Lithuanian counterparts. Earlier, the Estonian government rejected Latvia’s…
Companies in the Baltic States issued an all-time record of EUR 6.68bn in bonds in 2025, which was an increase of more than double from 2024, The Baltic Times reported. The volume of local bonds issued totalled EUR 1.37bn, which was up 42% over a year. The number of Baltic companies issuing bonds reached a…
International rating agency Fitch Ratings has downgraded the long-term issuer default rating of Latvia’s national air carrier, airBaltic, from B-/Negative to CCC+, indicating “significant risks” for creditors, LETA reports. Fitch also downgraded airBaltic’s senior secured long-term notes worth EUR 380mn from B- to CCC+. The agency noted that airBaltic’s level of indebtedness was higher and financial…
Estonian ride-hailing and courier service company Bolt generated a turnover of EUR 1.99bn in 2024, which was up 17% from EUR 1.7bn in 2023, ERR reported. Ride-hailing services accounted for 82% of total revenue. The company’s operating loss reduced to EUR 87.7mn from EUR 94.3mn in 2023. Bolt’s annual net loss amounted to EUR 102.6mn…
German aviation group Lufthansa Group will become a strategic investor in Latvia’s national air carrier, airBaltic, LSM reports. Under the deal, Lufthansa will acquire 10% of shares in airBaltic for EUR 14mn. The group plans to close the deal in the second quarter of 2025, subject to regulatory approval. The shares will be converted into…
Latvia’s national air carrier, airBaltic, has no plans to ask the government for more money, CEO Martin Gauss stated, LSM reports. Speaking in an interview with LTV, Gauss said that the company had to raise additional capital from international investors on the stock market instead. Earlier, Klavs Vasks, chairman of airBaltic’s supervisory board, surmised that…
Parties in Latvia’s coalition government will discuss possible changes to the management of the country’s national air carrier, airBaltic, LSM reports. Earlier, the airline announced that it would cancel nearly 4,700 flights in summer 2025 due to delays in aircraft engine maintenance. The company insisted that the delays were beyond its control. Aviation industry experts…
Latvia’s national air carrier, airBaltic, cannot meet its obligations and achieve its strategic objectives if the company continues to operate with negative equity, supervisory board chairman Klavs Vasks stated, LETA reports. An additional capital injection from the state is therefore probably inevitable unless the government is prepared to privatise the company, Vasks said. The investment…